Virginia Housing Trust Fund

Program ContactsPamela Kestner
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The Virginia Housing Trust Fund is intended to create and preserve affordable housing and to reduce homelessness in the commonwealth. The biennium budget for fiscal years 2018-20 allocated $5.5 million in the first year and $5.5 million in the second year to fund activities through the Virginia Housing Trust Fund.

USES

At least 80 percent of the fund is to be used for short-, medium- and long-term loans to reduce the cost of homeownership and rental housing. Up to 20 percent of the fund may be used to provide grants for targeted efforts to reduce homelessness.

IMPLEMENTATION

The Virginia Department of Housing and Community Development (DHCD) and the Virginia Housing Development Authority (VHDA) collaborate to administer the Virginia Housing Trust Fund.

ALLOCATION OF RESOURCES for 2018-19

The intent is to encourage a variety of responses from eligible applicants so funds are deployed in a timely and strategic manner.